Formula Systems (FORTY) has released an update.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Formula Systems (1985) Ltd. has announced a draft agreement for a potential new series of secured non-convertible debentures, Series D, to be issued in Israel, subject to regulatory approvals. The debentures, backed by a first-lien on shares from select subsidiaries, would be repaid annually with a fixed payment schedule through 2034. Additionally, credit rating agencies S&P and Midroog have assigned strong credit ratings to both the proposed debenture series and to Formula Systems as the issuer.
For further insights into FORTY stock, check out TipRanks’ Stock Analysis page.